Created by Rangga Haudika (Fiuancial Accounting course) Question 2 Saitama Hon Hotel started to operate on July 1, 2014. Its trial balance before adjustment on December 31, 2014 is as follows: Saitama Hon Hotel Trial Balance De cember 31, 2014 Account Number 101 126 130 140 Debit Credit Account Cash JPY JPY JPY JPY 30,000,000 JPY 150,000,000 JPY 45,000,000 7,000,000 4,160,000 4,800,000 es Prepaid Insurance Land Buildings ment 201 208 275 311 429 610 726 732 Accounts Payabl Unearned Hotel Revenue Mortgage Payable Common Stock Hotel Revenue Advertising Expense Salaries and Wages Expense Utilities Expense TOTAI JPY 22,500,000 JPY JPY 130,000,000 JPY 66,000,000 JPY 20,600,000 6,000,000 JPY JPY 18,000,000 JPY JPY 245,100,000 JPY 245,100,000 1200.000 900,000 In addition to those accounts listed on the trial balance, the chart of accounts for Saitama Hon Hotel also contains the following accounts and account numbers: No. 142 Accumulated Depreciation-Buildings, No. 150 Accumulated Depreciation-Equipment, No. 212 Salaries and Wages Payable, No. 230 Interest Payable, No. 619 Depreciation Expense, No. 631 Supplies Expense, No. 718 Interest Expense, and No. 722 Insurance Expense Other data 1. Prepaid insurance is a 1-year policy starting July 1, 2014 2. A count of supplies shows JPY 1,020,000 of unused supplies on December 31, 2014 3. Annual depreciation is JPY 7,500,000 on the buildings and JPY 4,500,000 on equipment 4. The mortgage interest rate is 3 percent p.a. (The mortgage was taken out on July 1,2014) 5. Seventy percent of the unearned rent revenue has been earned 6. Salaries of JPY 2,000,000 are accrued and unpaid at December 31, 2014 (a) Journalize the adjusting entries on December 31, 2014 (b) Prepare a ledger using the three-column form of account. Enter the trial balance amounts and post the adjusting entries (c) Prepare an adjusted trial balance on December 31, 2014 (d) Prepare an income statement and a retained earnings statement for the year 2014 and a balance sheet at December 31, 2014